Monday, March 31, 2008

Siemens Suffers from Nuclear Flu

Yes, the old stock value has taken a beating. Even mighty Siemens has found that building a nuclear plant is a bit too much to chew. Who is going to inform the politicians that their dream of sloughing off all the risk to the private sector is just a fantasy?

These things are always twice as expensive, and take twice as long. It is the "Law of the Nuclear Plant". In China or Romania, they can hide things, but not in the real world! If the plant actually works at the end, it is still a good deal for Society, who might not have any power otherwise, but the public has to pay the piper.

So, let's grow up, roll our eyes, and hope the Americans now cancel all their plants, so we can get some decent AP1000's. Otherwise, we are stuck with building ACR1000's with their wonky physics.